Notice of Meetings

Cabarrus County Board of Equalization and Review

Pursuant to N.C.G.S. §105–322 the Cabarrus County Board of Equalization and Review will meet as required by law.

Purpose of Meetings

To hear, upon request, any and all taxpayers who own or control taxable property assessed for taxation in Cabarrus County, with respect to the valuation of such property, or the property of others, and to fulfill other duties and responsibilities required by law.

Time of Meetings

Tuesday, April 6, 2010 at 3:00 pm
Tuesday, April 27, 2010 at 3:00 pm

The Board will adjourn for the purpose of accepting requests to appeal at the conclusion of the April 27, 2010 meeting. Taxpayers who receive a change of value notice after the date of adjournment will have 30 days to file an appeal with the Board. Meetings will be held in the County Assessor’s Conference Room in the Cabarrus County Governmental Center.

Requests for hearings must be received no later than 6:00 pm April 27, 2010, the advertised date for adjournment. In the event of an earlier or later adjournment, notice to that effect will be published in this newspaper. The schedule for the hearing of appeals, which were timely filed, will be posted at the Office of the Assessor, serving as Clerk to the Board, and will also be provided to individuals and organizations that have requested notice pursuant to N.C.G.S. §143-318.12.

Important Information on Assessed Values

The Board of Equalization and Review is aware of the current economic conditions impacting property owners in all areas of Cabarrus County. In the past the overall trend has been for real estate values to increase over time. The current economic climate has changed and in many instances the trends of the past no longer hold true.

The Board wishes to be sure that taxpayers understand that the current assessed value does not reflect the current economic conditions. Instead, the assessed value reflects the value based on the market conditions as of January 1, 2008, the effective date of our last revaluation. Since 2010 is a Non–Revaluation year, State Law (NCGS 105-287(b)(2)) explicitly prohibits changes in property values specifically due to economic changes impacting the County in general which would either increase or decrease a property’s value.

Pursuant to NCGS 105–287, all property appraisals must be made in accordance with the 2008 Schedule of Values, Standards and Rules, which were duly adopted for the 2008 County–wide Revaluation Program. This in effect freezes the valuation date for all real property to January 1, 2008 and thus all comparable data used to determine value must be from 2007 and/or prior years. To successfully appeal an appraised value you must demonstrate that the stated assessed value on the property is “significantly greater” than the market value of the property based on the market conditions that existed on January 1, 2008. All changes in economic conditions that impact property values will be recognized in the next Revaluation’s Schedule of Values, Standards and Rules.

All requests for hearing should be made to:

Cabarrus County Board of Equalization and Review
c/o Jennifer Morton
Cabarrus County Assessor’s Office
PO Box 707
Concord, NC 28026–0707
Telephone: (704) 920-2187

Important Property Re–Assessment Value Information During Recession

February 5, 2010 – The Cabarrus County Assessor is aware of the current economic conditions impacting property owners in all areas of the Country. In the past the overall trend has been for real estate values to increase over time. The current economic climate has changed and in many instances the trends of the past no longer hold true.

Since you are receiving a Notice of Assessed Value, we wanted to be sure that you understand that the reported value change is not the result of the current economic conditions. Instead, the new value is based upon a physical change to the property or to a correction of building and land characteristics for this particular property. Since this is a Non–Revaluation year, State Law (NCGS 105-287(b)(2)) explicitly prohibits changes in property values specifically due to economic changes impacting the County in general which would either increase or decrease a property’s value.

Pursuant to NCGS 105-287, all property appraisals must be made in accordance with the 2008 Schedule of Values, Standards and Rules, which were duly adopted for the 2008 County–wide Revaluation Program. This in effect freezes the valuation date for all real property to January 1, 2008 and thus all comparable data used must be from 2007 and/or prior years. To successfully appeal an appraised value you must demonstrate that the stated tax value on the property is “significantly greater” than the market value of the property as of January 1, 2008. When the next general Reappraisal is conducted all changes in economic conditions that impact property values will be recognized in the new Schedule of Values, Standards and Rules.